Hotel Development Company Gains Insight into Property Health through Web-Based Financial Tool
Good Hospitality Services, Inc., which provides hotel development, construction, and management services, is implementing Alloso Technologies' Portfolio One system. Alloso is a software development and consulting company specializing in portfolio management and performance improvement within the hospitality industry.
Portfolio One is a web-based financial reporting and business intelligence platform that consolidates information from many different hospitality and hotel brand systems. It provides in-depth financial reporting, expense management and analytical capabilities for hotel management companies and asset managers. Portfolio One collects, filters, and analyzes information to facilitate successful expense containment and proactive decision-making.
Good Hospitality Services, Inc. provides management services to twenty hotels throughout Indiana, Michigan, Iowa, and Florida. The hotels include a number of different brands, including Hampton Inn, Homewood Suites, Fairfield Inn, Towne Place Suites, and Baymont Inn and Suites. All are operated at the property level which has allowed Good Hospitality to enjoy net operating incomes at or above industry standards, as well as outstanding guest service scores. It has also led to an increased level of complexity in managing operational details and financial analysis.
Real-time visibility into revenue and expenses
The implementation of Portfolio One has allowed Good Hospitality to more quickly and easily manage details across all of their systems by giving real-time visibility into revenue and expense information. On one platform, users throughout the organization, including department heads, can analyze data consolidated from nearly every system in the organization, including General Ledger, Budgets and Forecasts, Market Research, Payroll and Labor, and Energy. This information can be viewed in multiple ways, customized to Good Hospitality's specifications.
"Portfolio One provides us immediate insight for both our corporate and on-site management teams. This "real time" approach to hotel management allows our team members at all levels to be more efficient and act rather than react. In the past, accessing this information was time consuming and inefficient; now it is virtually instant. We are more able to not only manage our current portfolio more efficiently but now are able to spend more time pursuing growth opportunities," says Brian Gilchrist, executive vice president for Good Hospitality Services, Inc.
Alloso developed Portfolio One as an affordable enterprise-class solution for small to mid-market hotel management companies. Portfolio One provides immediate Return On Investment and low overall cost of ownership. Significant savings include the elimination of unnecessary data entry and reporting, independence from costly IT resources and systems, and the reduction of paper generation, storage, and retrieval.
Portfolio One is a web-based financial reporting and business intelligence platform that consolidates information from many different hospitality and hotel brand systems. It provides in-depth financial reporting, expense management and analytical capabilities for hotel management companies and asset managers. Portfolio One collects, filters, and analyzes information to facilitate successful expense containment and proactive decision-making.
Good Hospitality Services, Inc. provides management services to twenty hotels throughout Indiana, Michigan, Iowa, and Florida. The hotels include a number of different brands, including Hampton Inn, Homewood Suites, Fairfield Inn, Towne Place Suites, and Baymont Inn and Suites. All are operated at the property level which has allowed Good Hospitality to enjoy net operating incomes at or above industry standards, as well as outstanding guest service scores. It has also led to an increased level of complexity in managing operational details and financial analysis.
Real-time visibility into revenue and expenses
The implementation of Portfolio One has allowed Good Hospitality to more quickly and easily manage details across all of their systems by giving real-time visibility into revenue and expense information. On one platform, users throughout the organization, including department heads, can analyze data consolidated from nearly every system in the organization, including General Ledger, Budgets and Forecasts, Market Research, Payroll and Labor, and Energy. This information can be viewed in multiple ways, customized to Good Hospitality's specifications.
"Portfolio One provides us immediate insight for both our corporate and on-site management teams. This "real time" approach to hotel management allows our team members at all levels to be more efficient and act rather than react. In the past, accessing this information was time consuming and inefficient; now it is virtually instant. We are more able to not only manage our current portfolio more efficiently but now are able to spend more time pursuing growth opportunities," says Brian Gilchrist, executive vice president for Good Hospitality Services, Inc.
Alloso developed Portfolio One as an affordable enterprise-class solution for small to mid-market hotel management companies. Portfolio One provides immediate Return On Investment and low overall cost of ownership. Significant savings include the elimination of unnecessary data entry and reporting, independence from costly IT resources and systems, and the reduction of paper generation, storage, and retrieval.